Entrepreneur and developer, Craig Gore has racked up 12 counts of fraud after obtaining $800,000 from self-managed superannuation funds (SMSF) investors, the Brisbane Magistrates’ Court heard following an Australian Securities and Investments Commission (ASIC) investigation.
Craig Kirrin Gore was arrested on 14 April and appeared in court the following day for the fraud offences, committed between 2013 and 2014. The funds taken were allegedly invested in debentures associated with Arion Financial Pty Ltd and Arion Property Pty Ltd.
Twice-bankrupt Gore would also face three charges of acting in the management of Arion Financial, MOGS Pty Ltd, and Sleipner Pty Ltd while disqualified.
Fraud charges carried maximum penalties of five to 20 years, whilst the charges of acting in the management of corporations while disqualified carried a penalty of one year in prison, or 50 penalty units.
ASIC had previously proposed the deregistration of Arion Financial on 5 July 2016.